In today’s blog post I’ll be discussing how to negotiate a counter-offer if you’re a potential Boston condo buyer. First in the present Boston condo market  a good offer is between 88% – 98% of the original asking price. Anything below that may not be taken seriously by the seller. In many scenarios your first offer  won’t be accepted by the seller. So what happens next? First you want to be prepared. Here are a few tips on how to counter offer:

  1. Try to figure out how motivated the seller is.
  2. How long has the Boston condo been on the market. The longer is better for the buyer.
  3. What condos in the area with similar parameters sold for.
  4. Is the Boston being rented or is owner occupied. Is property going into foreclosure?
  5. When was the Boston condo last sold? And for how much?
  6. How much is left on the mortgage
  7. When countering raise your price in small increments.
  8. Waiting game. Don’t look to eager to counter offer. The exception to this rule is if there’s a bidding war for the Boston condo. Which is not uncommon.
  9. Let the seller know when its your last and final offer.

View the video below for more details on each of these steps on how to counter offer.

  1. SEARCH BOSTON CONDOS FOR SALE & RENT

 

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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